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RDP 9202: Some Tests of Competition in the Australian Housing Loan Market
Equation (10)
q
1
t
=
γ
10
+
β
12
q
2
,
t
−
1
+
β
13
q
3
,
t
−
1
+
β
14
q
4
,
t
−
1
+
β
15
q
5
,
t
−
1
+
β
16
q
6
,
t
−
1
+
γ
11
r
1
h
,
t
−
1
+
γ
12
r
b
i
l
l
,
t
−
1
+
∑
i
=
1
11
δ
1
i
D
i
t
+
η
1
D
J
89
t
+
ε
1
t
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